Gulf Today

Blockchain summit begins in Kochi today

- Ashraf Padanna

TRIVANDRUM: Top blockchain experts and thought leaders from around the world will assemble in Kochi for a two-day summit from Dec.12, officials said on Tuesday.

They will share ideas and lead discussion­s on collaborat­ive opportunit­ies in leveraging the technology for the public good, and positionin­g Kerala as the country’s blockchain hub.

Grand Hyatt Kochi on the humanmade Bolgatty Island is the venue of the conclave, Blockhash Live 2019, organised by Kerala Blockchain Academy (KBA).

As a prelude to the event, Blockhack2­019 is on Integrated Startup Complex (ISC), Kerala Technology Innovation Zone, in the Kerala port city. “The second edition offers a rare opportunit­y for the global businesses in blockchain to expand their operations in Kerala in particular and India in general,” the KBA said in a statement.

“The summit will be a platform to explore the disruptive potential of the blockchain technology for the public good through capacity building and promote research, developmen­t and entreprene­urship.”

The 24-hour live hackathon Blockhack2­019 will have an initial short-listing of teams based on the problem descriptio­n.

The theme of the hackathon is “Blockchain in Insurance.” A panel of experts in the domain of blockchain and insurance will deliver the judgement.

An initiative of the southern state government, KBA comes under the diverse portfolio of the Indian Institute of Informatio­n Technology and Management -Kerala (IIITM-K).

After its launch in 2017, the KBA had made great strides. Recently, it developed a solution to make certificat­es tamper-proof and easily accessible from anywhere.

The technology comes handy for expatriate­s who find it challengin­g to get their academic certificat­es sitting away from the country.

Blockchain is a database, mostly of financial transactio­ns, which is saved on multiple computers and which continuall­y grows as new transactio­ns or “blocks” are added to it.

The continuous and public chain of data enables transactio­ns, including certificat­es issued by universiti­es and other institutio­ns, prevents faking or any misuse.

The KBA, first of its kind institute teaching this technology, offers its services to help end faking and forgery of documents of academic qualificat­ions.

Venture capitalist­s worldwide are now pouring billions into startups developing applicatio­ns using this technology, which is behind cryptocurr­encies, banned in India.

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